JPMorgan Chase & Co. Issues Positive Forecast for Enterprise Products Partners (NYSE:EPD) Stock Price

Enterprise Products Partners (NYSE:EPD) had its target price upped by equities researchers at JPMorgan Chase & Co. from $37.00 to $38.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the oil and gas producer’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 11.47% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Scotiabank increased their target price on shares of Enterprise Products Partners from $33.00 to $35.00 and gave the stock a “sector perform” rating in a research note on Thursday, March 6th. Truist Financial increased their price target on Enterprise Products Partners from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Morgan Stanley boosted their price objective on Enterprise Products Partners from $36.00 to $38.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 11th. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $37.00 price target on shares of Enterprise Products Partners in a report on Wednesday. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.60.

Enterprise Products Partners Stock Up 0.4 %

Enterprise Products Partners stock opened at $34.09 on Thursday. The business’s 50-day moving average price is $33.46 and its 200 day moving average price is $31.71. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05. The firm has a market cap of $73.83 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 1.37 and a beta of 1.08. Enterprise Products Partners has a 52 week low of $27.37 and a 52 week high of $34.63.

Enterprise Products Partners (NYSE:EPD) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas producer reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $14.20 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter last year, the company earned $0.72 EPS. The business’s revenue was down 2.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Enterprise Products Partners will post 2.9 earnings per share for the current year.

Institutional Investors Weigh In On Enterprise Products Partners

A number of hedge funds have recently modified their holdings of the business. Invesco Ltd. boosted its position in Enterprise Products Partners by 1.3% during the fourth quarter. Invesco Ltd. now owns 27,076,718 shares of the oil and gas producer’s stock worth $849,126,000 after acquiring an additional 359,288 shares during the last quarter. FMR LLC lifted its stake in Enterprise Products Partners by 2.1% in the 4th quarter. FMR LLC now owns 14,734,295 shares of the oil and gas producer’s stock worth $462,067,000 after purchasing an additional 304,997 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its holdings in shares of Enterprise Products Partners by 16.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 13,588,164 shares of the oil and gas producer’s stock worth $426,125,000 after purchasing an additional 1,947,017 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Enterprise Products Partners by 8.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,546,528 shares of the oil and gas producer’s stock valued at $330,739,000 after purchasing an additional 851,188 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its holdings in shares of Enterprise Products Partners by 11.1% in the fourth quarter. Westwood Holdings Group Inc. now owns 5,830,088 shares of the oil and gas producer’s stock valued at $182,832,000 after purchasing an additional 580,850 shares during the last quarter. 26.07% of the stock is currently owned by institutional investors and hedge funds.

About Enterprise Products Partners

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.